For sale by owner Tips for success

For sale by owner (or FSBO) posters are popping up in cities across the country. It seems that homeowners are increasingly determined to compete with or eliminate the real estate agent. Every FSBO has its reason for not using an agent. Some have had less than pleasant past experiences with agents and feel they can do a better job selling their property. Others must sell their home on their own, simply because of declining property values; they cannot pay an agent. There is also the “seasoned” home salesperson; They have bought and sold before, so they do not feel the need to share the income with an Agent.

Whatever the reason, home sellers are determined to act as their own agent. Here are some tips for FSBO sellers to consider when selling their home.

  • CLEAN AND SCENARIO. You should keep your home cleaner and clear clutter. Give your sidewalk an attractive touch by tending to the lawn and adding some flowers for a pop of color. Use a pressure washer to clean the exterior (in our “red clay” country, many homes have a prematurely aged or deteriorated appearance due to the clay that forms around the bottom half of the exterior).
  • ANNOUNCED. You must put your home in front of buyers. Dropping a sign in the front yard and telling the neighbors you want to sell won’t be enough. You should use the publications in your area and invest money in advertising. Also, you must have your home online. There are several resources online; some are free to homeowners, allowing you to list your property on high-traffic websites. This is a technology-driven world and buyers are looking for homes online. Avoiding the world of tech-savvy is just avoiding potential buyers.
  • PRICE ACCORDING TO. The number one mistake FSBO makes is pricing the property. Most buyers prefer to hire the services of an agent (read my blog on buyer agents) and will not buy a home without representation. Buyers who are willing to buy directly from the owner have an intention in mind; ironically the same intention as FSBO … SAVE MONEY. Don’t get greedy, because buyers are educated these days and have the power to achieve comparable home sales in your neighborhood. Today’s buyer will also find that YOU are not paying an agent, so they expect your property to be priced much lower than a listed property.
  • ALLOW A BUYERS AGENT TO SELL your property. Understandably, some FSBOs feel that the Agent is the “enemy.” Homeowners are often inundated with calls from agents requesting to list their home; Along with previous unpleasant experiences, this can make the owner resent the agents. Not all agents search for the listing. If it is clear in advance (and in print) You will offer a percentage to a buyers agent, this will give you more exposure to your property. If an agent has a buyer and you want to sell, working together will achieve the desired end result for everyone. It is true that you will have to sacrifice a part of your earnings; However, it can make the difference between “on sale” Y “sold”. Having your home on the market will earn you ZERO income. Offering a percentage to a buyers agent will save you money as you won’t be paying a publicly traded agent, not to mention it can cut down on time to market, ultimately adding money to your pocket.

Ultimately, a home for sale is likely to sell faster and for a greater amount than an FSBO property. The key is to find an agent that works with you, Y for you. Your prospective agent should be able to offer you a guarantee, which will exempt you from your listing agreement in the event that you feel you are not meeting your obligations.

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